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Kickstarter.com is a crowd-funding platform where people can donate money to help friends, family or strangers bring their creative projects to life. Since its launch in 2009, more than 5.1 million people have pledged over 857 million dollars to creators who maintain 100% ownership of their project. Those who pledge donations, known on the site as 'backers', offer direct support to projects of their choice and are responsible for funding more than 51,000 projects. Not only does the website act as a resource to fund the project, it also creates a community of fans and supporters around the creator's work. How It Works Kickstarter.com is a fresh, new platform for creators to realize creative projects via crowdsourcing. The website’s functional structure is referred to as a ‘platform’ because it “suggests a progressive and egalitarian arrangement, promising to support those who stand upon it”(Guiseppi, 94). The success of Kickstarter campaigns rely on the collective efforts of individuals as financially support, also known as crowdsourcing. Guidelines A few guidelines are set up by the site to ensure its role as a crowd-funding platform to endorse creative projects. Firstly, every project must fit into one the sites 13 categories: Art, comics, Dance, Design, Fashion, Film, Food, Games, Music, Photography, Publishing, Technology, and Theater. The second main rule is the emphasis of each venture being a project, something with a clear projected goal resulting in a product. Beyond these central rules, the site has a regulations to be abided by for creators, projects and all participating user of the platform. Anyone who meets the site's ''Creator Requirements, ''over 18 years old and based in US, UK, Canada, Australia and New Zealand, is eligible to submit a project to be reviewed by a project specialist before its’ launching. Creators independently create a profile explaining their endeavor, set a funding goal and deadline, then people who choose to support them pledge a donation. If, and only if, the goal is met, do project creators receive the funding. Kickstarter fosters a community around projects where funders can be involved beyond financing. Project creators often promise rewards to their backers if they achieve their funding goal. Backing a project can mean supporting a friends' or family members' dream or rallying behind a project that you simply find inspiring or interesting. Backers are often tempted by rewards if the fund goal is met. A musician might offer backers who donate a small amount a copy of their CD, while a greater donation would receive a personalized, signed copy. Funding The funding on the site operates on an all of nothing basis. If a funding goal isn’t achieved by the deadline, the backer’s aren’t charged and creators don’t get anything. The site makes money by charging a 5% fee of funds collected by successful projects. Unlike traditional forms of investment, project creators maintain 100% ownership of their project. Kickstarter’s all or nothing policy differs from collection fees of other crowd-funding platforms like Indiegogo’s, where creators get most of their earnings regardless of meeting funding goals. Indiegogo has a flexible funding fee, which allows creators to keep money regardless of reaching the deadline goal. A successful campaign will lose only 4% of total raised funds to the site, and those who fall short still get to get keep all but 9%. Initially, the Indiegogo funding seems like a better bet to maximize revenue but Kickstarter statistics prove otherwise. An impressive 44% of projects meet their goals, demonstrating the all-or-nothing’s rallying power among supporters. Self-Regulation A member of Kickstarter's team will conduct a quick review to ensure each project meets the project guidelines. However, the majority of the site's regulation is ultimately up to users of the platform. It is up to the backer to assess the validity and ability of a creator to complete a successful project. The site has an ''accountability ''section to help backers determine the legitimacy and/or capability of creators. It is up to the users of the site to report any violations of guidelines and Terms of Use, by clicking a “Report this project” button, and provided a detailed complaint. It is also left to the user to monitor any copyright or trademark violations. If the funding goal is met, it is the creator's responsibility to complete the project. Kickstarter created terms which legally require creators to fulfill-funded projects, but they refuse to assume neither responsibility nor involvement in its’ execution once it receives funding (FAQ). The site ultimately forfeits all legal responsibility, serving solely as a platform for creators to pitch creative projects for backers to fund. When it comes to failed projects, the liability belongs to the backers, who are advised by Kickstarter to support creators “who share a clear plan for how their project will be completed and who have a history of doing so” (FAQ). Empty Promises Kickstarter claims their "mission is the help bring creative projects to life" but all they do is act as a platform for the most enticing and interesting projects to receive funding without the promise of a tangible product. Kickstarter offers no guarantee that projects will be completed or even attempted once the creator receives funding. According to a study at the University of Pennsylvania, as many as “75 percent of Kickstarter projects don’t deliver on time… and some never deliver at all” (noreen). One of the reasons Kickstarter is praised is because of crowd-sourcing false promise of a new populist economy. The site appears to democratize innovation, giving the public more power in how resources are spent, but it does quite the opposite. The success of a campaign relies on the circulation of funding pleas around the Internet. This system obviously favors creators with strong social media networks, tech-savvy enough to make the most appealing video pitch. Bibliography http://www.crunchbase.com/company/kickstarter Malone, Noreen. ''Fund me, I’m Useless. ''New Republic. 12/6/2012. Vol. 243 Issue 18, p7-8. Boudway, Ira. ''The Next Indie Darling, Courtesy of the Crowds. ''Bloomberg Businessweek. 5/30/2011, Issue 4231, p 52-52. Tarleton Gillespie, 2010. 'The politics of "platforms"' , New Media and Society http://www.kickstarter.com/help/guidelines?ref=footer http://www.kickstarter.com/help/faq/kickstarter+basics?ref=help_nav http://www.kickstarter.com/help/guidelines?ref=help_nav Vilanno, Matt (March 14, 2010). “Small Donations in Large Numbers, With Online Help” The New York Times.